Former Construction Bank officials on second-phase trial hinh anh 1Pham Cong Danh (wearing glasses) (Source: VNA)

HCM City (VNA) – The Ho Chi Minh City People’s Court on January 8 began a trial on the case of “deliberately violating State regulations on economic management causing severe consequences” in the Vietnam Construction Bank (VNCB-present name CB).

This is the second phase of the case, which involves Pham Cong Danh, ex-Chairman of VNCB Board of Directors, Chairman of the Board of Members and General Director of Thien Thanh Group, and his accomplices. In this phase, they are accused of causing economic losses of more than 6.1 trillion VND (268.4 million USD) to the VNCB.

A total of 46 defendants are brought to the trial, which will last until February 7.

According to the indictment, in 2013 and 2014, Danh asked staffs of the VNCB and Thien Thanh Group to compile false documents in the names of 29 companies which were established in Danh’s name or others, in order to take loans from Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank), Tien Phong (TPBank) and Bank for Investment and Development of Vietnam (BIDV).

Danh used the money for personal purposes and was unable to refund.

He and his accomplices also used VNCB’s money as collateral for loans from the banks.

Other defendants include Tram Be, former Vice Chairman of Sacombank, and Phan Huy Khang, former Director General of Sacombank, who was said to have helped Danh borrow 1.8 trillion VND from Sacombank.

Apart from the 46 defendants, the court summoned 127 people with related interests and obligations, including Tran Quy Thanh, Chairman of Tan Hiep Phat Group; Tran Ngoc Bich, Thanh’s daughter; Hua Thi Phan, former senior advisor of Dai Tin Bank – the predecessor of VNCB; and Tran Bac Ha, former Chairman of BIDV, among others. 

More than 70 lawyers will defend legitimate rights and interests of the defendants and concerned people.-VNA